Hemp Inc (HEMP)

[Det_Robert_Thorne]

Just like they were windfall for Biotech Mills?

LCMs will be a windfall for hemp.

You know that HEMP bought the equipment at auction after the 2013 bankruptcy of Biotech Mills/Kenactiv Innovations, which was making and selling DrillWall since 2009, don't you?




Biotech went bankrupt selling kenaf-based LCM while the number of US oil rigs increased dramatically. Between 2009 and 2013 (Kenactiv bankruptcy Oct, 2013,) the number of U.S. Oil Rigs rose from approximately 200 in 2009 to roughly 1400, a 600% increase:



By early-2010, the number of oil rigs equaled the 400 rigs from before the recession, and the number tripled from there, yet Kenactiv was still showing large losses in 2013.

Now, with $30 oil and the the February 26, 2016 rig data from Baker-Hughes (also the data source in the chart above) showing 502 U.S. rigs, why should we expect HEMP to do any better using the same people (Dave Schmitt and Bob Hughes) to sell the same products?

One final question:

If the Drillwall and Kenaf were such great products, why didn't anyone outbid Perlowin for the equipment and also make the winning bid on the land and building? With just a little maintenance (assuming the crankshaft isn't broken,) they would have had a fully operational plant by mid-2014 manufacturing fiber and Drillwall with another year or so of sales before the oil market crashed, but while the rest of the economy was slowly improving.